Introduction to Malta GRP
The Malta Global Residence Program was founded on the foundation of attracting expats to Malta together with their family. Malta residency has become more appealing to those seeking an opportunity to reside in a Mediterranean country in the heart of Europe.
What is Malta Global Residence Program?
Benefits of the Malta Global Residence Program
Work Permit Entitlement;
EU/ Schengen/ Long Term Residence;
Remittance of Taxation [15% flat rate];
Family Members Included;
Faster Process than other Programs; and
No Minimum Presence is Required.
Taxation of Maltese Global Residents
It can be advantageous if you are seeking to establish an alternate residence to enhance your lifestyle and tax profile further.
Under GRP, your income will be taxed on source and remittance basis.
Which means, all the income with Malta source or any other income sourced outside of Malta but received in Malta will be taxed at a special 15% rate under GRP.
As we mentioned earlier, Malta offers special tax status by setting the personal tax rate on foreign source income remitted to Malta at 15% subject to a minimum annual tax payment of €15,000 with the possibility to claim double taxation relief.
Our team of tax professionals can assist you with all your Tax related queries. Get in touch today by sending us an email on firstname.lastname@example.org
Eligibility for the Maltese Global Residence Program
Be a 3rd country national;
Be a non-Maltese, EEA or Swiss national;
Have a stable and regular income for maintaining yourself and your family;
Have medical insurance that covers you and your family globally;
Have a certificate of good health from a reputable health system;
Be fluent in one of the official languages of Malta (English or Maltese);
Not stay in any other jurisdiction for more than 183 days in a year;
Hold a qualifying property.
Malta Global Residence can also be obtained by:
Adult children under 25 years of age; and
Parents above 55 years of age.
What is the cost of obtaining GRP?
To get the Malta residence permit under GRP, a number of financial obligations have to be met with.
- Registration Fee - €6,000 (Government of Malta);
- Annual Minimum Tax - €15,000 (covers only the first €100k of income remitted to Malta);
- Qualifying Property - €9,600 (Rent per annum).
Other than this you would be required to fulfil:
Malta Global Residency Program Rules
Not become a Maltese, EEA or Swiss national;
Retain the Qualifying Property;
Not become a long-term resident;
Retain insurance for yourself and your family;
Continue to have stable income resources; and
Must not stay in any other jurisdiction for more than 183 days in a calendar year.
Malta’s jurisdiction is an attractive option if you are looking for opportunities to relocate.
- Steady Economic Growth;
- Political Stability;
- Its Geographical Location;
- Booming Sectors including Financial Services, Maritime, Aviation, Gaming and Real Estate;
- Tax Efficient Systems;
- One of the World’s Safest Countries.